Business, 12.03.2020 22:08 HaJEReMY5170

Consider the following data that gives the quantity produced and unit price for three different goods across two different years to answer the next five questions. Assume that the base year is 2015. Good 2015 Price 2015 Quantity 2016 Price 2016 Quantity A $2 250 $3 200 B $3 300 $2 400 C $4 400 $5 500 19. What was the real gross domestic product (GDP) in 2016? a. $3,000 d. $3,350 b. $3,600 e. $8,550 c. $3,900 20. What was the gross domestic product (GDP) deflator in 2016? a. 108.3 d. 130 b. 103 e. 110 c. 120 21. What was the inflation rate between the two years? a. 1 percent d. 3.8 percent b. 3.2 percent e. 8.3 percent c. 2 percent 22. What was the nominal gross domestic product (GDP) in 2015? a. $3,600 d. $3,000 b. $3,900 e. $8,550 c. $3,350 23. What was the growth rate of real gross domestic product (GDP) between the two years? a. 30 percent d. 20 percent b. 3 percent e. 8.3 percent c. 2 percent

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Consider the following data that gives the quantity produced and unit price for three different good...

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